Black Diamond Therapeutics (NASDAQ:BDTX) Stock Price Up 5.6%

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) rose 5.6% on Monday . The company traded as high as $3.57 and last traded at $3.56. Approximately 297,600 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 1,678,401 shares. The stock had previously closed at $3.37.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Piper Sandler assumed coverage on Black Diamond Therapeutics in a research report on Friday, July 14th. They set an “overweight” rating and a $11.00 price objective for the company. Stifel Nicolaus upgraded Black Diamond Therapeutics from a “hold” rating to a “buy” rating and boosted their price objective for the company from $2.00 to $10.00 in a research report on Thursday, June 29th. Wedbush upgraded Black Diamond Therapeutics from a “neutral” rating to an “outperform” rating and set a $10.00 price objective for the company in a research report on Tuesday, June 27th. Finally, HC Wainwright upgraded Black Diamond Therapeutics from a “neutral” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Wednesday, June 28th.

Black Diamond Therapeutics Trading Up 5.6 %

The stock has a 50-day simple moving average of $3.97 and a 200-day simple moving average of $2.58. The company has a market cap of $183.62 million, a price-to-earnings ratio of -1.56 and a beta of 2.47.

Black Diamond Therapeutics (NASDAQ:BDTX) last announced its quarterly earnings results on Friday, August 11th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.02. As a group, research analysts expect that Black Diamond Therapeutics, Inc. will post -2.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other Black Diamond Therapeutics news, Director Ali Behbahani acquired 1,000,000 shares of Black Diamond Therapeutics stock in a transaction dated Wednesday, July 5th. The stock was bought at an average price of $5.00 per share, for a total transaction of $5,000,000.00. Following the transaction, the director now owns 4,448,757 shares in the company, valued at approximately $22,243,785. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, major shareholder Growth N. V. Biotech bought 1,740,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 27th. The shares were acquired at an average cost of $5.49 per share, for a total transaction of $9,552,600.00. Following the acquisition, the insider now directly owns 7,117,839 shares of the company’s stock, valued at approximately $39,076,936.11. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ali Behbahani bought 1,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The stock was bought at an average price of $5.00 per share, for a total transaction of $5,000,000.00. Following the completion of the acquisition, the director now directly owns 4,448,757 shares in the company, valued at $22,243,785. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 3,740,000 shares of company stock worth $19,552,600. 9.07% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Black Diamond Therapeutics

Hedge funds have recently modified their holdings of the stock. Cubist Systematic Strategies LLC boosted its position in shares of Black Diamond Therapeutics by 25.8% in the second quarter. Cubist Systematic Strategies LLC now owns 15,804 shares of the company’s stock worth $39,000 after buying an additional 3,244 shares during the period. AQR Capital Management LLC boosted its position in shares of Black Diamond Therapeutics by 34.4% in the second quarter. AQR Capital Management LLC now owns 18,663 shares of the company’s stock worth $46,000 after buying an additional 4,773 shares during the period. Herbst Group LLC acquired a new stake in shares of Black Diamond Therapeutics in the second quarter worth $69,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Black Diamond Therapeutics in the second quarter worth $73,000. Finally, Bank of Montreal Can acquired a new stake in shares of Black Diamond Therapeutics in the second quarter worth $76,000.

Black Diamond Therapeutics Company Profile

Black Diamond Therapeutics, Inc, a clinical-stage precision oncology medicine company, focuses on the discovery and development of therapies for patients with genetically defined cancers. The company's lead product candidate, BDTX-1535, a brain-penetrant, mutant selective, irreversible EGFR MasterKey inhibitor, designed to inhibit a family of oncogenic mutations, currently under Phase 1 clinical trial.